Launches boost Reckitt
BIG-NAME brands such as Finish and Vanish lifted profits at Reckitt Benckiser, the world’s largest maker of household cleaners.
Chief executive Bart Becht said investment in its big international products was the major cause of an 11 per cent rise in three-month sales to £1.51billion. Profits rose 12 per cent to £266million.
Growth was helped by new product launches such as Airwick Freshmatic Mini air fresheners and Finish Max In 1 dishwasher tablets.
Reckitt increased its advertising spending by a third as it stepped up marketing of key brands.
There was strong demand from fast-growing markets in Asia, Latin America, Africa and the Middle East, where sales rose 16 per cent to account for nearly a fifth of group turnover. Becht said the group was raising its forecasts for full-year sales and profits growth.
JP Morgan analyst Celine Pannuti described the figures as spectacular and the shares rose 200p to 2980p.
Two years ago, Reckitt spent £1.9billion taking over Boots’ healthcare division.